BPT Stock Forecast

BPT stock upgraded to Hold/Accumulate.
(Updated on May 02, 2024)

BPT Signals & Forecast

There are mixed signals in the stock today. The BPT stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $2.47. On a fall, the stock will find some support from the short-term average at $2.26. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 3.20%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for BPT stock

BPT finds support from accumulated volume at $2.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0537 between high and low, or 2.41%. For the last week the stock has had daily average volatility of 3.99%.

BPT is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $2.14 (-5.25%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 18 which reduces the risk some. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (BPT) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect BP Prudhoe Bay Royalty Trust to open at $2.26, and during the day (based on 14 day Average True Range), to move between $2.11 and $2.41, which gives a possible trading interval of +/-$0.153 (+/-6.75%) up or down from last closing price. If BP Prudhoe Bay Royalty Trust takes out the full calculated possible swing range there will be an estimated 13.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.25 (0.44%) than the resistance at $2.29 (1.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BP Prudhoe Bay Royalty Trust stock A Buy?

BPT holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.314 Hold/Accumulate Upgraded

Predicted Opening Price for BP Prudhoe Bay Royalty Trust of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.